Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Qs Confined!

The BIG picture of the Q's shows that all this week the price structure has remained confined within a range between 41.70 and 41.00. Looked at from within a larger context, the sideways 4 day range can be viewed as a consolidation near the bottom of the down-leg from the 1/11 high at 43.31. If it does not represent a "bottom," then it is a "middle," with another downleg to follow. We shall find out soon... A rally that hurdles and sustains above 41.70/75 will trigger the "bottom" scenario, while a decline that breaks 41.00 will trigger the "downleg" scenario. MJP 01/26/06 2:55 PM ET (41.51)

For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his Macro Trading Charts. Or try his QQQ Trading Charts or his E-mini S&P 500 Trading Diary.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!